JPMorgan Chase & Co. Raises Stock Position in Jabil Inc. (NYSE:JBL)

JPMorgan Chase & Co. raised its position in Jabil Inc. (NYSE:JBL - Free Report) by 18.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,877,599 shares of the technology company's stock after purchasing an additional 288,806 shares during the quarter. JPMorgan Chase & Co. owned 1.72% of Jabil worth $270,187,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Elo Mutual Pension Insurance Co lifted its stake in shares of Jabil by 10.9% during the 4th quarter. Elo Mutual Pension Insurance Co now owns 11,179 shares of the technology company's stock worth $1,609,000 after acquiring an additional 1,102 shares during the last quarter. WINTON GROUP Ltd boosted its stake in shares of Jabil by 352.4% during the fourth quarter. WINTON GROUP Ltd now owns 42,544 shares of the technology company's stock valued at $6,122,000 after purchasing an additional 33,140 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Jabil by 4.7% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 186,373 shares of the technology company's stock worth $27,893,000 after purchasing an additional 8,291 shares during the last quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund purchased a new position in Jabil in the 4th quarter worth about $446,000. Finally, Penobscot Investment Management Company Inc. bought a new stake in Jabil during the 4th quarter valued at about $217,000. Hedge funds and other institutional investors own 93.39% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on JBL shares. StockNews.com raised shares of Jabil from a "hold" rating to a "buy" rating in a research report on Friday, March 21st. Stifel Nicolaus reiterated a "buy" rating and issued a $160.00 target price (up from $150.00) on shares of Jabil in a report on Thursday, December 19th. JPMorgan Chase & Co. raised their price target on Jabil from $172.00 to $175.00 and gave the company an "overweight" rating in a research note on Friday, March 21st. UBS Group upped their price objective on shares of Jabil from $152.00 to $157.00 and gave the stock a "neutral" rating in a research note on Friday, March 21st. Finally, Barclays raised their target price on shares of Jabil from $179.00 to $184.00 and gave the company an "overweight" rating in a research report on Friday, March 21st. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, Jabil presently has an average rating of "Moderate Buy" and an average price target of $167.50.

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Insiders Place Their Bets

In other Jabil news, Director Christopher S. Holland sold 3,400 shares of the firm's stock in a transaction on Friday, January 31st. The shares were sold at an average price of $162.27, for a total value of $551,718.00. Following the completion of the transaction, the director now owns 12,900 shares of the company's stock, valued at approximately $2,093,283. This trade represents a 20.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Steven A. Raymund sold 20,000 shares of the business's stock in a transaction on Friday, January 10th. The shares were sold at an average price of $151.30, for a total transaction of $3,026,000.00. Following the sale, the director now directly owns 119,108 shares in the company, valued at $18,021,040.40. This trade represents a 14.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 77,400 shares of company stock valued at $12,804,458. 1.73% of the stock is currently owned by corporate insiders.

Jabil Stock Up 1.8 %

Shares of NYSE:JBL traded up $2.45 during trading on Wednesday, reaching $138.87. The stock had a trading volume of 912,154 shares, compared to its average volume of 1,437,435. The firm's 50-day simple moving average is $153.29 and its 200 day simple moving average is $140.29. The company has a current ratio of 1.06, a quick ratio of 0.72 and a debt-to-equity ratio of 1.81. Jabil Inc. has a one year low of $95.85 and a one year high of $174.80. The company has a market capitalization of $15.16 billion, a P/E ratio of 13.31, a PEG ratio of 1.65 and a beta of 1.19.

Jabil (NYSE:JBL - Get Free Report) last announced its earnings results on Thursday, March 20th. The technology company reported $1.94 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.11. Jabil had a net margin of 4.71% and a return on equity of 41.87%. The company had revenue of $6.73 billion during the quarter, compared to the consensus estimate of $6.40 billion. During the same period last year, the firm earned $1.68 earnings per share. Jabil's revenue was down .6% compared to the same quarter last year. As a group, research analysts expect that Jabil Inc. will post 8.05 EPS for the current fiscal year.

Jabil Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.23%. The ex-dividend date of this dividend was Tuesday, February 18th. Jabil's dividend payout ratio (DPR) is presently 7.66%.

Jabil Profile

Jabil Inc provides manufacturing services and solutions worldwide. It operates in two segments, Electronics Manufacturing Services and Diversified Manufacturing Services. The company offers electronics design, production, and product management services; electronic circuit design services, such as application-specific integrated circuit design, firmware development, and rapid prototyping services; and designs plastic and metal enclosures that include the electro-mechanics, such as the printed circuit board assemblies (PCBA).